<?xml version="1.0" encoding="UTF-8" standalone="no"?><!--IFIndAs V2.1 (26-06-2026)--><xbrli:xbrl xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-01-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/IntegratedFinance_IndAS/2026-01-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/IntegratedFinance_IndAS/2026-01-31/in-capmkt-roles" xmlns:in-capmkt-types="http://www.sebi.gov.in/xbrl/2026-01-31/in-capmkt-types" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:xlink="http://www.w3.org/1999/xlink"><link:schemaRef 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unitRef="INR">0</in-capmkt:ComprehensiveIncomeForThePeriodAttributableToOwnersOfParentNonControllingInterests><in-capmkt:PaidUpValueOfEquityShareCapital contextRef="OneD" decimals="-3" unitRef="INR">158282000</in-capmkt:PaidUpValueOfEquityShareCapital><in-capmkt:FaceValueOfEquityShareCapital contextRef="OneD" decimals="INF" unitRef="INRPerShare">10</in-capmkt:FaceValueOfEquityShareCapital><in-capmkt:BasicEarningsLossPerShareFromContinuingOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">-4.83</in-capmkt:BasicEarningsLossPerShareFromContinuingOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">-4.83</in-capmkt:DilutedEarningsLossPerShareFromContinuingOperations><in-capmkt:BasicEarningsLossPerShareFromDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">0</in-capmkt:BasicEarningsLossPerShareFromDiscontinuedOperations><in-capmkt:DilutedEarningsLossPerShareFromDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">0</in-capmkt:DilutedEarningsLossPerShareFromDiscontinuedOperations><in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">-4.83</in-capmkt:BasicEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations contextRef="OneD" decimals="INF" unitRef="INRPerShare">-4.83</in-capmkt:DilutedEarningsLossPerShareFromContinuingAndDiscontinuedOperations><in-capmkt:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">1	The unaudited consolidated financial results of Mangalam Drugs and Organics Limited ("the Company or the Parent Company and its subsidiary referred as the "Group") for the quarter ended June 30, 2026 have been prepared in accordance with Indian Accounting Standard (Ind AS) as prescribed under section 133 of  the Companies Act,  2013, read together with Companies (Indian Accounting Standard) Rules, 2015 and relevant amendment rules thereafter.							 &lt;br /&gt; 
2	The figures for the last quarter are the balancing figures between audited figures in respect of full financial year upto March 31, 2026 and the unaudited published year-to-date figures upto December 31, 2025 being the date of the end of the third quarter of the financial year respectively which were subject to limited review.							 &lt;br /&gt; 
3	The above unaudited consolidated financial results of the Group for the quarter ended June 30, 2026 have been reviewed by the Audit Committee and thereafter, approved by the Board of Directors at their meeting held on August 12, 2026.							 &lt;br /&gt; 
4	 The Group has business activity falls within a single reportable Business Segment Viz. “Manufacturing of Bulk Drugs”.							 &lt;br /&gt; 
5	The Consolidated results includes results of Mangalam Laboratories Private Limited (MLPL), Wholly-owned subsidiary of the Company for the purpose of Consolidated results and it is not a material subsidiary of the Company.							 &lt;br /&gt; 
6	The Board of Directors of the Company at its meeting held on March 15, 2024 had considered and approved the scheme of Merger by Absorption of its Wholly-owned subsidiary ("First Transferor Company") and Shri JB Pharma Private Limited (Formerly known as Shri JB Pharma LLP) ("Second Transferor Company") with Parent Company ("Transferee Company") and their respective shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. The Scheme is subject to hearing by Hon’ble National Company Law Tribunal.							 &lt;br /&gt; 
7	Other Expenses							 &lt;br /&gt; 
	                                                                                                                                                                                                              Rs in Lakhs 							 &lt;br /&gt; 
	Particulars				Quarter Ended			Year Ended &lt;br /&gt; 
					30.06.2026	31.03.2026	30.06.2025	31.03.2026 &lt;br /&gt; 
					Unaudited	Audited	Unaudited	Audited &lt;br /&gt; 
	Power and Fuel Expenses				568.73 	440.18 	446.44 	1,829.35  &lt;br /&gt; 
	Pollution Control Expenses				149.84 	217.46 	168.30 	660.56  &lt;br /&gt; 
								 &lt;br /&gt; 
8	The figures for the previous periods have been regrouped wherever necessary to confirm to the current periods classification.							 &lt;br /&gt; 
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